Total monthly cost of ownership
Cost to Own a Home in Austin, Minnesota
A $155,000 home here costs
$1,349per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $797. The real number is $552 higher every month — 69% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Austin against Mower County and Minnesota
| Measure | Austin | Mower County |
|---|---|---|
| Median home value | $155,100 | $172,000 |
| Median property tax | $1,621 | $1,819 |
| Effective tax rate | 1.045% | 1.058% |
| Median gross rent | $860 | $848 |
| Population | 26,167 | 40,069 |
The weather behind that power bill
Austin sits in Mower County, which averages a high of 79.3°F in its hottest month and a low of 4.6°F in its coldest, with 37.37" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 408 cooling and 8,407 heating degree days, which is what sets the $152 electricity line above.
See the full climate breakdown for Mower County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Mower County
No other places of this size are published in Mower County.
Full Mower County cost breakdown · Every county in Minnesota
Common questions
How much does it cost to own a home in Austin?
A $155,000 home in Austin, Minnesota costs approximately $1,349 per month with 20% down at 6.66%. That is $797 principal and interest, $135 property tax, $67 homeowners insurance, $220 utilities and $129 set aside for maintenance.
What is the property tax rate in Austin?
Austin has an effective property tax rate of 1.045%, based on a median home value of $155,100 and median real estate taxes of $1,621. That is lower than the Mower County average of 1.058%.
What is the average home price in Austin?
The median owner-occupied home value in Austin, Minnesota is $155,100, against $172,000 across Mower County.
Is it cheaper to rent or buy in Austin?
Median gross rent in Austin is $860 a month, against $1,349 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Austin — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Minnesota.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.